Comparing Credit Cards Now
Looking for a general article that focuses on comparing the different types of credit cards? This article can be used to compare a few different types of credit cards. We provide some general information to help better understand and identify important aspects of these different credit cards.
The Comparisons Made
There are a huge number of credit card providers in the market today. Comparing a credit card before you select one can therefore be quite difficult. For this reason, we would like to point out a few important points that you can look for when comparing credit card.
First, some credit cards charge you a fee for using them – typically rewards cards. These fees are usually charged on an annual basis. However, there are cards that don’t have an annual fee, so make sure you shop around.
Second, the major thing to look for when comparing credit cards is the interest rate applied by the credit card company. The interest rate differs per provider and can vary greatly depending on the type of card or provider. The interest is charged on the outstanding amount or the amount that has been issued to the credit card. It is therefore important to keep the amount to be repaid as low as possible with a high percentage of interest. Choose a credit card with the lowest possible interest rate!
Compare the Additional Benefits
Different providers of credit cards offer cards with extra (free) benefits. For example, you can select a credit card with free purchase insurance. In doing so, a deductible amount is often used. With such insurance, items purchased with the card are, for example, insured against damage for a period of 90 days. This is a useful extra advantage that is important when it comes to credit card comparison. Some airlines also offer free travel insurance. If you do not have this (yet), it can be useful to choose a card that offers this free option.